STILL SOME GREAT OPPORUNITIES IN HAMMARSDALE AND CATO RIDGE
Category Upper Highway General
STILL SOME GREAT OPPORUNITIES IN HAMMARSDALE AND CATO RIDGE
Recent sales and leases of warehousing and factory space in the Cato Ridge have virtually depleted the stock of available warehousing in Cato Ridge but there are still some good opportunities. The stock shortage is also driving up rentals, which in turn is creating further opportunities.
The commencement of operations of the Cato Ridge Inland Port, with its Intermodal /Transshipment facilities, has attracted a further number of logistics and manufacturing companies, both large and small to the area, resulting in the sale and leasing of most of the available buildings in Cato Ridge. Work on the development of the Maersk Cold Storage in Cato Ridge is also helping to build confidence in the area.
The interest and stock shortage are resulting in a significant increase in asking rentals, which were as low as R40/m2, to some now as high as R75/m2, creating some really good arbitrage opportunities.
It is also making new developments more attractive to both end users and developers and resulting in renewed interest and activity in and around Hammarsdale.
There is, fortunately, still a fair amount of Industrial zoned vacant land available for sale and or Turnkey Development and although there are very few options of less than 4 Ha, some developers are working on sub-dividing properties to suit end user requirements.
Although prices and rentals are increasing, there are still a few opportunities of buildings at 'Old Pricing' and some very well priced vacant land with Industrial zoned options from R350/m2 and un-zoned land from R5-R300/m2 depending on location and potential.
The new Westown Development in Cato Ridge will further compliment the area and ensure future growth of the Outer West for many years.
Author: Robert McInerney
